The index increased from 97.9% in Q4 2018 to 98.4% in Q4 2019, the report noted.

According to the report, the Construction Cost Index (CCI) is an "important statistical indicator" for the purposes of planning and research in various disciplines.

Statistics centres and agencies in different countries consistently compile these indices, based on the prices of a group of building materials and construction services commonly used during the construction process.

The figures calculated constitute a time series that provides a measure of changes in the cost of construction over time.

According to the state-run news agency, Wam, the ‘services’ group contributed to the overall increase in prices in the Q4 2019, compared to the same period in 2018.

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